April 14, 2016

Research #3Lithium in Utah, USA

Prima Diamond becomes Voltaic Minerals with

focus on energy metalsToday, when the market opens in Canada, Prima Diamond Corp. will trade under its new corporate name Voltaic Minerals Corp. (symbol: VLT). The 5:1 share consolidation has also been approved by the exchange and the new share structure will become effective at the opening. The current 32.6 million shares issued and outstanding will be reduced to a total of 6.5 million shares, whereas its share price will be readjusted from yesterday’s close of $0.055 to approximately $0.275. In February, the company announced the acquisition of the Green Energy Project in Utah with historic lithium grades of up to 1,700 mg/L (read Rockstone’s report here).

Company Details

Voltaic Minerals Corp. (formerly Prima Diamond Corp.)Suite 1450 - 789 West Pender StreetVancouver, BC, V6C 1H2 Canada Phone: +1 604 681 1568Email: djones@voltaicminerals.comWeb: www.voltaicminerals.comShares Issued & Outstanding: 6,514,700

Canadian Symbol: VLT (formerley PMD)Current Price: $0.055 CAD (April 13, 2016)Market Capitalization: $1.8 million CAD

German Symbol / WKN: 2P61 / tbcCurrent Price: €0.042 EUR (April 13, 2016)Market Capitalization: €1.4 million EUR

Did you know? Volt (symbol: V) is the derived unit for electric potential, electric po-tential difference (voltage), and electromotive force. The volt is named in honour of the Ita-lian physicist Alessandro Volta (1745–1827), who was an Italian physicist, chemist, and a pioneer of electricity and power, who is credi-ted as the inventor of the electrical battery.

Chart Canada (TSX.V)

Chart Germany (Frankfurt)

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lso in February, the company announced a $0.05 post-con-solidation private placement of

up to 15 million units, which include a full warrant exercisable at $0.075 in the first year and $0.10 in the second year.

The proceeds of the ongoing financing ($750,000) may get invested into the development of the company’s Green Energy Lithium Project in Utah.

The Green Energy Lithium Property – which covers 1,684 hectares with close proximity to rail head, power and paved roads – is located in the Paradox Basin, where more than 50 oil and gas wells have been drilled in a 80 km wide radius from the property.

Oil and gas wells in the area have shown to be capable of flowing in excess of 50,000 barrels of brine per day. Histor-ic wells on the Green Energy Property were reported to be “flowing artesian wells”, i.e. no pumping may be required as the supersatured brines (up to 1,700 mg/L lithium with over 40% dissolved solids) flow to the surface under the natural pressure of the aquifer. During historic oil and gas exploration, several blow-outs occurred when intersecting brines under pressure within the Para-dox Formation.

Readers should not rely on the Green Energy Project’s historic resource of 15 million barrels (>2 billion liters) of brine containing 5,750 t lithium (30,535 t Li2CO3 / lithium carbonate), 157,000 t calcium, 576,450 t magnesium chloride and 96,000 t sodium.

Instead, Voltaic’s mission to create shar-holder value is to re-sample the brines, by re-entering existing shut-in wells on the property, and to upgrade the historic resource estimate to NI43-101-compli-ant standards. This will include metal-lurgical work, baseline and scoping work and engineering studies.

Management and insiders will control over 40% of the issued and outstand-ing shares on a post-consolidation and post-financing basis. On March 28, the company announced the results of its

annual general and special meeting in Vancouver, where 48% (15.8 million shares) of the outstanding shares were represented at the meeting and where shareholders approved to consolidate

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the share capital of the company on the basis of 5 pre-consolidated shares for every 1 post-consolidated share. Each of the director nominees proposed by management for election was elected by 100% of the votes that was cast. Darryl Jones, Sean Charland, Dusan Berka and Foster Wilson were elected to the board of directors.

Dave Hodge (President) Mr. David Hodge, President and Dir-ector of Zimtu Capital Corp. has an ex-tensive background in business that in-cludes over 20 years of experience in the management and financing of public-ly-traded companies. He has been a dir-ector of mineral exploration companies since 1996, and serves on the boards of Commerce Resources Corp. and Equitas Resources Corp.

Foster Wilson (Director)Mr. Wilson has over 30 years of experi-ence in exploration and development ranging from reserve drilling and esti-mation, feasibility studies, mine permit-ting and development. He has worked in various capacities for Placer Dome Inc., Echo Bay Mines Ltd., American Bonanza Gold Corp. and various other junior exploration companies. Also cur-rently serving as President of Mesa Ex-ploration Corp.

Darryl Jones (VP Corp. Development)Mr. Jones has over 15 years of capital market experience and an established financial network. He was an Investment Advisor with PI Financial Corp. Canada and Raymond James Ltd. Canada. Jones was responsible for raising significant risk capital for growth companies in all sectors, with a particular focus on nat-ural resources. He brings a network of contacts within the financial community from across North America and Europe.

Sean Charland (Director)Mr. Sean Charland is a seasoned com-munications professional with experi-ence in raising capital and marketing resource exploration companies. His network of contacts within the financial community extends across North Amer-ica and Europe. Mr. Charland also serves as a Director of Arctic Star Exploration Corp. and Zimtu Capital Corp.

Dušan Berka (P.Eng., Director)Mr. Berka has over 40 years of inter-national business experience spanning Europe and the Americas with extensive experience in the finance, marketing and administration of public companies, hav-ing served as a Director and Officer of various public companies traded on the TSX, TSX Venture and NASDAQ exchan-ges. A graduate engineer with a M.Sc. (Dipl. Ing.) degree from Slovak Technical University, Bratislava, Slovakia (1968), Mr. Berka has been a member of the As-sociation of Professional Engineers and Geoscientists of British Columbia since

1977. Mr. Berka currently also serves as a Director of 92 Resources Corp., Bel-mont Resources Inc. and Megastar De-velopment Corp.

Read Rockstone’s previous reports on the Green Energy Lithium Project:

Research #2: “Early Warning Report on Prima Diamond” (March 18, 2016)

Research #1: “Prima Diamond Acquires the Green Energy Project in Utah with Historic Lithium Grades of 1700 mg per liter” (February 18, 2016)

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About “Voltaic“

Wikipedia on the term “voltaic/battery electricity“:

Alessandro Volta built and described the first electrochemical battery, the voltaic pile, in 1800 (see picture in the middle, where Volta is demonstrating his pile to French emperor Napoleon Bonaparte).

The voltaic pile then enabled a rapid series of discoveries including the electrical decomposition (electrolysis) of water into oxygen and hydrogen by William Nicholson and Anthony Carlisle (1800) and the discovery or isolation of the chemical elements sodium (1807), potassium (1807), calcium (1808), boron (1808), barium (1808), strontium (1808), and magnesium (1808) by Humphry Davy.

The entire 19th century electrical industry was powered by batteries related to Volta‘s (e.g. the Daniell cell and Grove cell) until the advent of the dynamo (the electrical generator) in the 1870s.

Alessandro Giuseppe Antonio Anastasio Volta (18 February 1745 – 5 March 1827) was an Italian physicist, chemist, and a pioneer of electricity and power, who is credited as the inventor of the electrical battery and the discoverer of methane.

He invented the Voltaic pile in 1799 and the results of which he reported in 1800 in a two-part letter to the President of the Royal Society.

With this invention, Volta proved that electricity could be generated chemically and debased the prevalent theory that electricity was generated solely by living beings.

Volta‘s invention sparked a great amount of scientific excitement and led others to conduct similar experiments which eventually led to the development of the field of electrochemistry.

Alessandro Volta also drew admiration from Napoleon Bonaparte for his invention, and was invited to the Institute of France to demonstrate his invention to the members of the Institute. Volta enjoyed a certain amount of closeness with the Emperor throughout his life and he was conferred numerous honours by him.

Alessandro Volta held the chair of experimental physics at the University of Pavia for nearly 40 years and was widely idolised by his students.

Despite his professional success, Volta tended to be a person inclined towards domestic life and this was more apparent in his later years.

The SI unit of electric potential is named in his honour as the volt.

The volt (symbol V) is the derived unit for electric potential, electric potential difference (voltage), and electromotive force.

A voltaic pile, the first battery

Batteries convert chemical energy direc-tly to electrical energy. A battery consists of some number of voltaic cells. Each cell consists of two half-cells connected in series by a conductive electrolyte con-taining anions and cations. One half-cell includes electrolyte and the negative electrode, the electrode to which anions (negatively charged ions) migrate; the other half-cell includes electrolyte and the positive electrode to which cations (positively charged ions) migrate. Redox reactions power the battery. Cations are reduced (electrons are added) at the ca-thode during charging, while anions are oxidized (electrons are removed) at the anode during charging. During dischar-ge, the process is reversed. The elec-trodes do not touch each other, but are electrically connected by the electrolyte. Some cells use different electrolytes for each half-cell. A separator allows ions to flow between half-cells, but prevents mixing of the electrolytes.

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Disclaimer and Information on Forward Looking Statements:All statements in this report, other than statements of historical fact should be con-sidered forward-looking statements. Much of this report is comprised of statements of projection. Statements in this report that are forward looking include that Prima Diamond Corp. or any other company or market will perform as expected; that Prima Diamond Corp. will complete today’s announced transaction; that Prima Diamond Corp. or its partner(s) can and will start producing and selling any kinds of products; that the company can raise sufficient funds for the transaction, exploration and corporate matters; that any of the mentioned plans, comparisons with other companies, regions or numbers are valid or economic. Such statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in these forward-looking statements. Risks and un-certainties respecting lithium companies are generally disclosed in the annual financial or other filing documents of Prima Diamond Corp. and similar companies as filed with the relevant securities commissions, and should be reviewed by any reader of this report. In addition, with respect to Prima Diamond Corp., a number of risks relate to any state-ment of projection or forward statements, including among other risks: the receipt of all necessary approvals and permits; the ability to conclude a transaction to start or continue exploration; uncertainty of future market regulations, capital expenditures and other costs; financings and additional capital requirements for exploration, development, construction, and operating of a facility; the receipt in a timely fashion of further permit-ting for its legislative, political, social or eco-nomic developments in the jurisdictions in which Prima Diamond Corp. carries on busi-ness; operating or technical difficulties in connection with production or development activities; the ability to keep key employees, joint-venture partner(s), and operations financed. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking in-formation. Rockstone and the author of this report do not undertake any obligation to update any statements made in this report.

Disclosure of Interest and Advisory Cautions: Nothing in this report should be construed as a solicitation to buy or sell any securities mentioned. Rockstone, its owners and the author of this report are not registered broker-dealers or financial advisors. Before investing in any securities, you should consult with your financial advisor and a registered broker-dealer. Never make an investment based solely on what you read in an online or printed report, including Rockstone’s report, especially if the investment involves a small, thinly-traded company that isn’t well known. The author of this report is paid by Zimtu Capital Corp., a TSX Venture Exchange listed investment company. Part of the author’s responsibilities at Zimtu is to research and report on companies in which Zimtu has an investment. So while the author of this report is not paid directly by Prima Diamond Corp., the author’s employer Zimtu will benefit from appreciation of Prima Diamond Corp.’s stock price. In addition, the author owns shares of Prima Diamond Corp. and Zimtu Capital Corp. and thus would also benefit from volume and price appreciation of its stocks. In this case, Prima Diamond Corp. has one or more common directors with Zimtu Capital Corp. Thus, multiple conflicts of interests exist. Therefore, the information provided herewithin should not be construed as a financial analysis or recommendation but strictly as an advertisment. The author’s views and opinions regarding the companies featured in reports are his own views and are based on information that he has researched independently and has received, which the author assumes to be reliable. Rockstone and the author of this report do not guarantee the accuracy, completeness, or usefulness of any content of this report, nor its fitness for any particular purpose. Prima Diamond Corp. has not reviewed this report prior to publication. Lastly, the author does not guarantee that any of the companies mentioned in the reports will perform as expected, and any comparisons made to other companies may not be valid or come into effect. Please read the entire Disclaimer carefully. If you do not agree to all of the Disclaimer, do not access this website or any of its pages including this report in form of a PDF. By using this website and/or report, and whether or not you actually read the Disclaimer, you are deemed to have accepted it. Information provided is educational and general in nature.

Analyst Profile and Contact

Stephan Bogner (Dipl. Kfm. FH)Mining Analyst Rockstone Research 8050 Zurich, Switzerland+41-44-5862323sb@rockstone-research.com

Stephan Bogner studied at the International School of Management (Dortmund, Germany), the European Business School (London)

and the University of Queensland (Brisbane, Australia). Under supervision of Prof. Dr. Hans J. Bocker, Stephan completed his diploma thesis (“Gold In A Macroeconomic Context With Special Consideration Of The Price Formation Process”) in 2002. A year later, he marketed and translated into German Ferdinand Lips‘ bestseller („Gold Wars“). After working in Dubai for 5 years, he now lives in Switzerland and is the CEO of Elementum International AG specialized in duty-free storage of gold and silver bullion in a high-security vaulting facility within the St. Gotthard Mountain Massif in central Switzerland.

Rockstone is a research house specialized in the analysis and valuation of capital markets and publicly listed companies. The focus is set on exploration, development, and production of resource deposits. Through the publication of general geological basic knowledge, the individual research reports receive a background in order for the reader to be inspired to conduct further due diligence. All research from our house is being made accessible to private and institutional investors free of charge, whereas it is always to be construed as non-binding educational research and is addressed solely to a readership that is knowledgeable about the risks, experienced with stock markets, and acting on one’s own responsibility.

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Research #3 | Voltaic Minerals Corp.